The signs are there!
Even though Thailand was one of the hardest hit economies in Asia there is still much interest in the Thai economy and the Thai property market in particular. As with the vast majority of countries around the world, the credit crunch brought a short sharp shock to the country and the economy collapsed as business dried up and visitors to the region disappeared. However, over the last few months there have been signs of a recovery in the Thailand economy and indeed many experts are now pinpointing the Thai property market as a potential source of significant investment return in the medium to longer term.
The Thai economy
The turnaround in the Thailand economy has been fairly sharp over the last few months after a very difficult first quarter and first half of 2009. Indeed the economy fell year on year by 7.1% in the first quarter of 2009 and by a far more impressive 4.9% in the second quarter of 2009. As we await news of the third-quarter figures, which are due at the end of November, many people are already predicting growth in the Thai economy of around 4% in the second half of 2009.
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